The USD/CHF currency pair continues to move within the development of the correction and bullish channel. At the time of the publication of the Forex forecast, the US Dollar to Swiss Franc exchange rate is 0.8804. Moving averages indicate the presence of a short-term bullish trend for the pair. Prices are testing the area between the signal lines, which indicates pressure from buyers and potential continued growth in the asset value from current levels. At the moment, we should expect an attempt to develop a correction of the US Dollar against the Swiss Franc and a test of the support area near the level of 0.8775. Then, the price will bounce back upward and the US Dollar will continue to grow against the Swiss Franc with a potential target above 0.8935.
USDCHF Forecast Dollar Franc for December 11, 2024
An additional signal in favor of the growth of the Dollar Franc currency pair on FOREX will be a rebound from the support line on the relative strength indicator (RSI). The second signal will be a rebound from the lower border of the bullish channel. The option with the growth of the USD/CHF pair on Forex will be cancelled by a fall and a breakout of the 0.8735 area. This will indicate a breakout of the support area and a continuation of the fall of USD/CHF quotes to the area below the level of 0.8545. Confirmation of the growth of USD/CHF quotes should be expected with a breakout of the resistance area and the price closing above the level of 0.8865, which will indicate a breakout of the upper border of the descending channel.
USDCHF Forecast Dollar Franc for December 11, 2024 suggests an attempt to develop a bearish correction and test the support area near the level of 0.8775. Further, the continuation of the growth of the USD/CHF currency pair with a target above the level of 0.8935. An additional signal in favor of the rise of the Dollar Franc pair will be a rebound from the trend line on the relative strength indicator. The cancellation of the growth option will be a fall and a breakout of the 0.8735 area. This will indicate a breakout of the support level and a continuation of the fall of the pair with a potential target below the level of 0.8545.
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